“The Mint has always got to be one step ahead of the crooks, so if this is what they need to do, then they should.”

Ian MacDonald, 23, a software developer of Morse Street, said: “It’s different I suppose. I’m not used to it really.

“As a libertarian I’m not a fan of forced change. I don’t think it will stop counterfeit money in the long-term.

“I’m not sure of the economical advantages of doing it.”

The Royal Mint has not said how much it will cost to make the new coins, but it says £2m has so far been invested in developing the new security techniques used on the machines.

Andrew Mills, head of circulation for the Mint, said 90 per cent of the changes were likely to be straightforward, and cost around £10 to £12 per machine, and that cost of changing all the machines in the country is likely to be between £15 and £20m.

But the British Parking Association said just changing parking machines could cost £50m.

The Automatic Vending Association’s chief executive Jonathan Hilder added: “It is imperative that the vending industry works with all the other parties to ensure that the security and implementation can be undertaken at the lowest possible cost to industry due to its large legacy machine base. The AVA supports the development of a new coin which is more secure than its predecessor and can incorporate new technologies in the future and works through the existing machine base at minimal cost.”